Cardano is in the spotlight again these days following another success that the team behind the project is celebrating.
It’s been revealed that a Swiss fintech company is rolling out the first crypto exchange-traded products (ETPs) for Cardano (ADA) and Stellar Lumens (XLM).
Cardano and Stellar Lumens mark an important milestone
21Shares AG is listing Stellar XLM ETP (AXLM) and Cardano ADA ETP (AADA) on the Swiss stock exchange (SIX Exchange) on April 26th with a base fee of 2.5% per year, according to the latest reports coming from the Daily Hodl.
It is also adding the two investment products to the Stuttgart and Dusseldorf multilateral trading facilities (MTFs).
According to the same online publication, the firm says it is expanding its roster of crypto exchange-traded products amid rising interest in Cardano and Stellar Lumens.
“21Shares says demand for its crypto ETPs soared by 200% since Q1 2021 as institutional investors allocate funds to institutional-grade and open-ended ETPs, driving the increase in new inflows,” the notes read.
According to official notes, “Both AXLM and AADA ETPs will allow clients to diversify and gain exposure to cross-border transitions between any pair of currencies whilst Cardano will help running smart contracts using proof of stakes on a level previously not possible executing using your bank or broker. The ETP structure is 100% physically collateralised, segregated and replicates 1:1 the tracking of both crypto assets.”
Cardano in the news
Cardano has been making a lot of headlines lately.
IOHK dropped an important message on their social media account.
Home to millions of youthful innovators, entrepreneurs & pioneers 🌍
— Input Output (@InputOutputHK) April 24, 2021
Stay tuned for more Cardano related news, and make sure to keep your eyes on the market.